Albany, NY -- (ReleaseWire) -- 06/27/2014 -- High demand for steel manufacturing and steel processing along with recycling has been driving the market for silicon carbide (SiC) in the past few years. Silicon carbide is a key component of the semiconductor devices and growth in the electronics and semiconductor market is also a driving factor governing SiC market growth. The high precision required for manufacturing components and the low level of tolerances in the end-user market have been restraining the market at the same time.

This report segments the silicon carbide market based on products, end-users and geographies and provides forecasts and estimates for sub-segments of each of these. The report also presents supply and demand characteristics of silicon carbide and applications by providing a detailed forecast from 2013 to 2019 along with revenues and volumes analysis. It also provides opportunities for the silicon carbide market for the near future along with the latest trends and driving and restraining factors influencing the market.

Based on the product segments, the silicon carbide market can be categorized into different segments such as black SiC, green SiC and others such as coated SiC, refractory SiC, metallurgical SiC, metallurgical briquettes and SiC micro grit. Black SiC has been the largest market and is expected to show the highest growth during the forecast period.

The major end-user segments in the silicon carbide market are steel & energy, automotives, aerospace & aviation, military & defense, electronics & semiconductors and medical & healthcare. Of these, steel & energy, electronics & semiconductors and automotives have been the major markets while medical & healthcare is expected to show the highest growth in the near future.

North America, Europe, Asia Pacific and Rest of the World (RoW) are the key regions covered in this report. Each of the above mentioned regions are further segmented based on product segment and end-users of silicon carbide and thorough analysis of each segment in terms of volume and revenue in 2012 and forecast until 2019 has been included in the report. The detailed analysis of market landscape of companies such as ESK SIC GmbH, Grindwell Norton Ltd., The Dow Chemical Company and other major manufacturers of silicon carbide has been included in this report.

Silicon carbide demand was over USD 1.45 billion in 2012 and is expected to reach USD 3.82 billion by 2019, growing at a CAGR of 15.3% from 2013 to 2019. In terms of volume, silicon carbide consumption is expected to reach 2,377.1 kilo tons in 2019, growing at a CAGR of 14.5% from 2013 to 2019.

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